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  UK exits recession, exceeds expectations by recording strongest growth in last three years

  World | May 10, 2024 16:01 IST

  The British economy grew by 0.6 per cent in the three months to March, according to the Office for National Statistics, which was the highest since it grew by 1.5 per cent in March 2021. The news brought much-needed relief for Rishi Sunak's under-fire government ahead of the general election.

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  Eurozone, 20 countries that use euro currency, slips into recession as GDP falls by 0.1% I DETAILS

  World | June 08, 2023 16:51 IST

  The economic growth figure for the 20 countries that use the euro currency was revised down from zero to minus 0.1% for the fourth quarter of 2022.

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  US debt ceiling has catastrophic effects- 83 lakh job losses, world recession I EXPLAINED

  World | May 26, 2023 17:38 IST

  US debt ceiling row: Moody’s Analytics has estimated that a default of no longer than a week would lead to the loss of 1.5 million jobs.

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  Germany, world's 4th largest economy, enters recession as GDP falls for 2nd quarter, inflation hurts

  World | May 25, 2023 17:36 IST

  Data released Thursday by the Federal Statistical Office shows Germany's gross domestic product, or GDP, declined by 0.3 per cent in the period from January to March. This follows a drop of 0.5 per cent in Europe's biggest economy during the last quarter of 2022.

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  Recession a looming threat for global economy, warns World Bank

  Business | January 11, 2023 10:27 IST

  The World Bank report also noted that rising interest rates in developed economies like the United States and Europe will attract investment capital from poorer countries, thereby depriving them of crucial domestic investment.

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  2023 will be 'tougher' than last year as world economy to slow down, warns IMF chief

  Business | January 02, 2023 17:45 IST

  Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation."

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  Recession alert! IMF chief warns third of global economy likely to plunge into recession this year

  World | January 02, 2023 15:04 IST

  IMF Chief underscored that the relentless war and the emergence of the new COVID wave in China are affecting the economy.

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  'Scariest economics paper of 2022' forecasts huge layoffs over next 2 yrs

  Business | September 10, 2022 21:58 IST

  The paper from the Brookings Institution by Johns Hopkins macroeconomist Larry Ball with co-authors Daniel Leigh and Prachi Mishra of the International Monetary Fund (IMF) found that "this unemployment path returns inflation to near the Fed's target only under optimistic assumptions".

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  1 Euro equals to 1 US dollar for the first time in 20 years

  Business | July 12, 2022 23:19 IST

  The European Central Bank has already hiked the interest rates in a bid to tame inflation and plans to continue doing so as the situation further deteriorates.

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  Recession is ‘not inevitable’: Joe Biden

  World | June 17, 2022 10:47 IST

  The president’s statement appeared to be about inflation rising worldwide, not necessarily whether countries had higher rates than the U.S. Annual inflation in Japan, for example, has risen in recent months though it’s still at a yearly rate of 2.4%, according to the Organization for Economic Co-operation and Development.

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  How high is the risk of another recession? EXPLAINED

  Business | June 16, 2022 17:55 IST

  For now, most economists don't foresee a downturn in the near future. Despite the inflation squeeze, consumers — the primary driver of the economy — are still spending at a healthy pace. Businesses are investing in equipment and software, reflecting a positive outlook. And the job market is still booming, with hiring strong, layoffs low and many employers eager for more workers.  

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  Global recession not expected: IMF chief

  Business | May 24, 2022 10:23 IST

  Kristalina Georgieva reminded that the International Monetary Fund is forecasting 3.6% growth for 2022, which is “a long way to global recession.”

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  EXPLAINER: Why US inflation is so high, and when it may ease

  World | February 11, 2022 15:45 IST

  For the 12 months ending in January, inflation amounted to 7.5% — the fastest year-over-year pace since 1982 — the Labor Department said Thursday. Even if you toss out volatile food and energy prices, so-called core inflation jumped 6% over the past year. That was also the sharpest such jump in four decades.

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  US debt default could trigger another recession: Reports

  World | October 05, 2021 18:15 IST

  As per reports, Treasury Secretary Janet Yellen believes the economy may fall into a recession if Congress fails to address the borrowing limit before an unprecedented default on the U.S. debt.

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  Recovery is underway after worst global recession since World War II: IMF MD Georgieva

  World | April 08, 2021 10:49 IST

  IMF MD Georgieva said this is adding to exceptional and coordinated actions taken over the past year.

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  Good News! India exits recession with 0.4% GDP growth in FY21 Q3

  Business | February 27, 2021 0:14 IST

  The National Statistical Office (NSO) data on Friday showed that the Q2FY21 GDP on a year-on-year basis contracted by 7.3 per cent from (-)24.4 per cent in the preceding quarter.

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  India's July-Sept GDP contracts 7.5%, 'technical recession' confirmed

  Business | November 27, 2020 18:35 IST

  The GDP at constant (2011-12) prices in Q2 of 2020-21 is estimated at Rs 33.14 lakh crore.

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  India enters into technical recession for first time in history: RBI report

  Business | November 12, 2020 18:45 IST

  India has technically entered into a recession with a likely contraction in its GDP during the July-September period, according to a report by the Reserve Bank of India (RBI).

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  World experiencing one of the deepest recessions due to COVID-19: World Bank

  World | October 15, 2020 8:26 IST

  The world is experiencing one of the deepest recessions since the Great Depression in the 1930s owing to the novel coronavirus, World Bank President David Malpass has said, terming the COVID-19 pandemic a "catastrophic event" for many developing and the poorest countries.

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  UK economy officially in recession after 20.4% Q2 slump

  Business | August 12, 2020 12:48 IST

  The U.K. economy has officially fallen into a recession after official figures showed it contracting by a record 20.4% in the second quarter as a result of lockdown measures put in place to counter the coronavirus pandemic.